Monday 3rd of January, 2022

Happy new year folks, no point diving into all the best wishes, you know I wish you all the smiles, all the happiness, all the success and all the monies every single day of the year.

In terms of advice, I’d say, keep track of things this year.

Things that don’t get measured / tracked don’t get improved.

You can either focus on blindly working and putting insane amount of hours, or you can focus on the bottlenecks and improve your efficiency.

Here’s the review of 2021 for my investor account.

I did a small thread on Twitter about it:

Review of 2021:

Using 0.4% risk per R pic.twitter.com/BKrfU9nz9E
— Crook (@0x_Crook) December 27, 2021

Anyway, with all that stuff put behind us (I may do a post about 2021 but not in a daily watch) let’s dive into what’s interesting to us.

FX Trade Update

AUD/JPY +2.8R & + 8.5R

I closed those positions early (on my personal account and second investor account)due to the fact the next day was Christmas and we then had a weekend. I’m a lot more confident banking around 11R rather than waiting for 13R but having the option of the price doing something when the market is closed.

All in all, happy with the trade execution.

Looking back, there’s a slight hesitation I could’ve executed a 4h 20 scale in, that being said, I’m not fully confident I was awake at the time of the entry hence why I’d have missed it the 22nd of Dec

FX Watchlist

EUR/GBP

I’ll be interested in a potential long on Euro Pound if we form a clear double bottom (ideally we’d even swipe the low to attract even more orders)

GBP/NZD

Pound Dollar is also on my watch for a potential short opportunity. We haven’t yet reached the level of interest, however, it’ll be an area of supply I will be closely monitoring.

USD/CHF

It hurts me to see USDCHF here since I was looking to execute the long last night at the market open. The spreads were high as expected, however, after 40minutes of waiting, I came to realize that it was a bank holiday in many countries – which would give me time to execute in the morning – expecting the price to move sideways till then.

Sadly, it started moving in my “favor” to the point where it nearly reached 1R over night… I wish I could say I executed this, but it was an error from me. I should’ve made myself a cup of coffee and stayed up rather than going to bed.

Total transparency, I make mistakes, I hope to make less than 10% of mistakes per year, but this is a great start to the year. Missed the trade. Ugh.

USD/JPY

Dollar Yen is on my watch for a potential trade, ideally, we’d have one or two more bullish candles to get out of the current slanted price action and then see a clear move lower. It’ll be a question of patience I guess.

I want to make sure the price sits in my “V” category and not SL before executing since in all my backtest there’s a large difference in terms of returns.

EUR/AUD

For those wondering why I’m not in Euro Aussie which gave us a gorgeous daily, it’s because the price action was sideways for far too long.

I’d only be interested in a short if we see some strong momentum to the downside and then a reversal. It’s on my maybe watch.

That being said it’s truly a gorgeous daily chart.

Crypto

I was supposed to take time off the markets, which I did, but I have to admit I spent wayyy too much time in the Crypto markets compared to the amount of revenue I am hoping to generate from it.

BTC

We remain inside a range, which I’d be surprised if we don’t visit the lows again before doing a reversal. The issue with that bias is that a lot of people are looking at the exact same chart as I am I can imagine.

A leg higher into the 2D FVG could therefore be likely before seeing a leg to the low. I’ve highlighted all the areas of interest on this chart.

ETH

I remain unsure on how to draw this chart, however, it now appears to be clear to me that we are in a range, since we’ve broken the most recent high it appears that we may see a leg higher before visiting the wick lows? Let’s be patient.

SOL

Sol is looking quite bullish in my eyes, we’re once again inside a range, we’ve already clearly created the extension to trap shorts, we’re now at the third tap. We’ve formed a higher high, and are forming a higher low. All in all this chart looks rather good for a day trade to the upside if you ask me.